Cost pressures are crystalising for a multitude of reasons, and demand is returning across different sectors. With the possible end of Covid restrictions in the UK, many have turned their thoughts to the prospect of inflation and increased base rates after years of easy credit.
The Bank of England has warned that if demand gets ahead of supply, there could be a generalised pick up in inflationary pressure and that CPI is expected to rise above the 2% target for a short period.
After a few years of flat or falling interest, and a market on hold whilst Brexit plays out, where does that leave construction and the property market?
With the magnitude and variety of pressures acting on the sector, averages can be troublesome. Behaviours and availability in one sector/area may not drive the same responses in others. Therefore, it is increasingly important to understand the factors affecting your project and plan accordingly.